MIRA INFORM REPORT

 

 

Report Date :           

21.12.2011

 

IDENTIFICATION DETAILS

 

Name :

GEMASIA

 

 

Registered Office :

Hoveniersstraat 53 B.49, Antwerpen, 2018

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

444382041

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Wholesale of other intermediate products

 

 

No. of Employees :

6 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Belgium

 a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Gemasia

Hoveniersstraat 53 B.49

Antwerpen, 2018

Belgium

Tel:       03 232 75 80

Fax:      03 232 67 31

 

 

Synthesis  

 

Employees:                  6

Company Type:            Private Independent

Incorporation Date:         1991   

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               240.1  1

Total Assets:                69.0

 

 

Business Description     

 

Wholesale of other intermediate products

 

Industry

Industry            Retail (Department and Discount)

ANZSIC 2006:    373 - Furniture, Floor Covering and Other Goods Wholesaling

NACE 2002:      5156 - Wholesale of other intermediate products

NAICS 2002:     4239 - Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2003:    5156 - Wholesale of other intermediate products

US SIC 1987:    509 - Miscellaneous Durable Goods

 

           

Key Executives   

 

Name                                                   Title    

Bart Filip Gerard Meynendonckx             Representative/Auditor

Samir Vinaykumar Zaveri                        Manager           

 

Registered No.(VAT): 444382041

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

Corporate Overview

 

Location

Hoveniersstraat 53 B.49

Antwerpen, 2018

Belgium

Tel:       03 232 75 80

Fax:      03 232 67 31

 

Sales EUR(mil):             181.3

Assets EUR(mil):           51.4

Employees:                   6

Fiscal Year End:            31-Dec-2010

Industry:                        Retail (Department and Discount)

Incorporation Date:         1991

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(VAT):     444382041

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

373       -          Furniture, Floor Covering and Other Goods Wholesaling

 

NACE 2002 Codes:

5156     -          Wholesale of other intermediate products

 

NAICS 2002 Codes:

4239     -          Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

509       -          Miscellaneous Durable Goods

 

UK SIC 2003:

5156     -          Wholesale of other intermediate products

 

Business Description

Wholesale of other intermediate products

Financial Data

Financials in:

EUR(mil)

 

Revenue:

181.3

Assets:

51.4

Current Assets:

50.8

 

Fixed Assets:

0.6

 

Total Liabilities:

51.4

 

Issued Capital:

3.1

 

Net Worth:

3.1

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

-28.0%

NA

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Executive report

 

Executives

 

Name

Title

Function

 

Bart Filip Gerard Meynendonckx

 

Representative/Auditor

Accounting Executive

 

Samir Vinaykumar Zaveri

 

Manager

Other

 

 

Annual Profit & Loss

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

    Turnover

240.1

91.6

133.8

    Other Operating Income

0.2

0.1

0.1

Operating Income

240.3

91.7

133.8

        Purchases

228.4

98.9

126.0

        Increase or Decrease in Stocks

8.8

-9.3

4.6

    Raw Materials, Consumables, and Goods for Release

237.2

89.6

130.5

    Services and Sundry Goods

1.1

0.9

1.1

    Remuneration, Social Security Charges, and Pensions

0.3

0.4

0.4

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.1

0.1

0.1

    Other Operating Charges

0.0

0.0

0.0

Operating Charges

238.7

91.0

132.2

    Income From Financial Fixed Assets

0.0

-

0.0

    Income From Current Assets

0.0

-

0.0

    Other Financial Income

0.0

0.0

0.0

Financial Income

0.0

0.0

0.0

    Interest and Other Debt Charges

1.3

0.6

1.4

    Other Financial Charges

0.0

0.0

0.0

Financial Charges

1.3

0.6

1.4

    Income Taxes

0.1

0.1

0.1

Income Taxes

0.1

0.1

0.1

        To the Legal Reserve

0.2

0.0

0.1

    Transfers to Capital and Reserves

0.2

0.0

0.1

    Employees

6

7

7

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

        Land & Buildings

0.8

0.9

0.9

        Plant, Machinery, and Equipment

0.0

0.0

0.0

        Furniture and Vehicles

0.0

0.1

0.1

    Tangible Assets

0.8

1.0

1.0

        Amounts Receivable and Cash Guarantees

0.0

0.0

0.0

        Other Capital Assets

0.0

0.0

0.0

    Capital Assets

0.0

0.0

0.0

Fixed Assets

0.8

1.0

1.0

        Goods Purchased for Resale

20.2

31.2

20.9

        Stocks

20.2

31.2

20.9

    Inventory and Orders in Progress

20.2

31.2

20.9

        Trade Debtors

46.8

36.9

23.7

        Other Amounts Receivable

0.0

0.0

0.0

    Amounts Receivable Within One Year

46.8

36.9

23.8

        Other Investments and Deposits

0.5

-

-

    Investments

0.5

-

-

    Liquid Assets

0.6

1.8

0.1

    Adjustment Accounts

0.0

0.0

0.0

Current Assets

68.2

69.9

44.8

Total Assets

69.0

70.9

45.8

        Issued Capital

4.2

4.4

4.3

    Capital

4.2

4.4

4.3

        Legal Reserve

0.3

0.2

0.1

        Reserves Available for Distribution

0.1

0.1

0.1

    Reserves

0.5

0.3

0.3

Capital and Reserves

4.8

4.9

4.7

        Subordinated Loans

8.5

2.5

2.5

        Credit Institutions

0.0

0.1

0.2

        Financial Debts

8.6

2.6

2.7

    Amounts Due After More Than One Year

8.6

2.6

2.7

        Current Portion of Amounts Payable After More Than One Year

0.1

0.1

0.1

        Credit Institutions

23.8

23.8

12.9

        Other Loans

0.1

5.3

0.1

        Financial Debts

23.8

29.2

13.0

        Suppliers

26.9

28.5

24.0

        Trade Debts

26.9

28.5

24.0

        Advances Received on Orders in Progress

4.4

4.4

-

        Taxes

0.2

0.0

0.0

        Remuneration and Social Security

0.0

0.0

0.0

        Taxes, Wages, and Social Security

0.2

0.1

0.1

        Other Amounts Payable

0.0

1.1

1.2

    Amounts Payable Within One Year

55.5

63.4

38.4

    Adjustment Accounts

0.1

0.0

0.0

Creditors

64.2

66.0

41.1

Total Liabilities + Shareholders' Equity

69.0

70.9

45.8

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.03

UK Pound

1

Rs.82.34

Euro

1

Rs.68.99

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.